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@ grey
2025-06-09 00:06:29
https://youtu.be/hMk0orYKXQk?si=ornW7cYj8ucLmk9O it’s incredibly frustrating that the conservative pundits compare the federal deficit to a business or household in debt. This false equivalency gives false hope that the debt can be resolved with fiscal conservatism. Sure, you shouldn’t look to Congress as your models for personal finance, but “reckless spending” is not the core driver of the federal debt.
The US is 37 trillion in debt because when you issue the reserve currency, you need to supply the world with your currency, and therefore, run structural trade deficits.
NO POLITICIAN WILL FIX THIS. ONLY A NEUTRAL RESERVE ASSET WILL FIX THIS.